Huge majority of Americans still want to own homes.

1

According to a study by Fannie Mae, the housing crisis hasn’t quenched the homeownership thirst. More than 51% of people said the bust did not change their willingness to buy a home and an additional 27% said it actually made them more likely to do so. The report, the first close analysis Fannie has taken of consumer attitudes about the rent-or-own decision, found that qualitative reasons – like having the ability to remodel or to send the kids to a better school – have overtaken financial considerations as the primary motivators for homeownership. Although trillions of dollars of equity were wiped out by the housing bust and millions of people will lose homes to foreclosure, nearly two-thirds of people surveyed believe purchasing a house is a safe investment. More than half the public also thought buying a home was a good idea financially even if they plan to move out in less than three years. Further, a huge majority, 86% of those surveyed, cite income-tax benefits –
mostly the mortgage interest deduction – as a big reason to buy.

Fannie found that no matter what their ethnicity or immigration status, Americans generally share similar positive attitudes toward homeownership, even though there are substantial differences among these groups in homeownership rates. It seems that economic opportunities, not attitudes, account for much of the variation. Only 44% of African Americans own homes, for instance, compared with 71% of whites, but that disparity starts to vanish among families in stronger financial circumstances. African Americans’ homeownership rises to 60% for those earning between $50,000 and $99,000, for example. The survey findings have implications for Fannie’s business model. Non-Hispanic whites are projected to account for just 46% of the population by 2050. Immigration will account for most of the population growth between now and then. And since, as the report stated, “strong homeownership aspirations exist across races, ethnicities and immigrant groups,” Fannie can count on future demand for owner-occupied homes remaining strong, as long as the economy cooperates.

2

But quite a few don’t want to or can’t pay for them.

3

or they are POS and they will not lend $$$ on them!

4

Yes, many want houses, just like the last one they had, new house with zero spent on maintenance. When the value dropped and things started breaking they walked away while still having their job in many cases.

The banks need to start adding in a maintenance fee to cover HVAC and roof’s since most homeowners do not have a clue that these two items are a total of about $70 per month of use.

The car people figured out how to do it, they lease vehicles for high prices and include maintenance costs. They actually do very little maintenance and recycle the car to the used car buyer who usually does not know it needs $1500 in maintenance work right away. The car gets used/trashed and then sent to the bone yard where the manufacturer wants it within 8 years.

Houses like that sit there and drag down the whole neighborhood until some idiot that can’t afford a home inspection comes along, buy’s it, and patches it up in the cheapest way possible.